Project is co-financed by the National Bank of Poland

This year’s Austrian Seminar will be accompanied by a special Teaching Workshop program, prepared for teachers who would like to effectively share their knowledge of economics and the Austrian School of Economics with their students. The workshops will take place directly before the seminar and each participant in the workshops will receive a certificate of participation. Although the Summer Seminar and the Teaching Workshops are separate events, we highly recommend participating in both of them.

Participants in the third annual Austrian Summer Seminar can take a special exam on the theory of economics in the tradition of the Austrian School. A passing score on the exam allows examinees to begin a professional cooperation with the Polish Mises Institute.

Join us in Radziejowice,

Witold Falkowski, the President of Polish Mises Institute

Speakers:

Prof. Dr hab. Witold Kwaśnicki, University of Wroclaw, head of The Department of The General Theory of Economics, the head of the Polish Mises Institute Council

Dr hab. Ryszard Bugaj, member of the Institute of Economic Sciences of Polish Academy of Sciences

Dr Jan Iwanik, Polish Mises Institute (IM) expert on insurance, graduate of the Faculty of Mathematics of Wroclaw University of Technology, employee of RBS Insurance in London, UK, columnist.

Dr Mateusz Machaj, founder of the Polish Mises Institute, PhD at Wroclaw University of Economics, assistant professor at Wroclaw University of Environmental and Life Sciences.

Maciej Bitner M.S., IM specialist on financial markets, PhD candidate at the University of Warsaw, freelance columnist.

Szymon Chrupczalski M.S., junior economist of IM, graduate of Jagiellonian University in Krakow and Krakow University of Economics, freelance columnist.

Juliusz Jabłecki M.S., IM specialist on banking, PhD candidate at the University of Warsaw

Jacek Kubisz M.S., graduate of University of Wroclaw, collaborator of IM, intern at Urzad Marszalkowski of Lower-Silesia Region.

Jan Lewiński M.S., collaborator of IM, PhD candidate at Wroclaw University of Economics, translator.

Karol Pogorzelski M.A., IM specialist on public sector, PhD candidate at the University of Warsaw.

Ben Stafford, Director of Programs of Foundation for Economic Education, USA, special guest of Polish Mises Institute.

Program of the Polish Mises Institute 3rd Summer Austrian Seminar
“The Boundaries and Effectiveness of the Free Market:”

1. Day – 10.09.2010
13.00–15.00 Registration
15.00–16.00 LUNCH, welcome drink
16.15–17.00 Opening lecture: “What is Free Market?” (Witold Kwaśnicki)
17.00–18.30 Discussion Panel: “Are there any areas where market does not work?”  (Witold Kwaśnicki, Ryszard Bugaj, moderator: Mateusz Machaj)
18.40–19.15 DINNER
19.30-21.00 Refreshments

2. Day – 11.09.2010
08.30–09.15 BREAKFAST
09.15–10.45 “Theories of irrationality and rationality of the financial system” (Maciej Bitner)
10.45–11.00 COFFEE BREAK
11.00–12.15 “Where is Waldo? Are credit bubbles visible in monetary statistics?” (Juliusz Jabłecki)
12.15–13.30 “Kirzner’s Theory of Entrepreneurship” (Karol Pogorzelski)
14.00–15.00 LUNCH
15.30–16.45 “Insurance Cycles and the Austrian Theory of Business Cycles” (Jan Iwanik)
16.45–17.00 COFFEE BREAK
17.00–18.15 “Theory of Contestable Markets vs. Theory of Competition” (Mateusz Machaj)
18.30–19.30 DINNER
19.45–21.00 Meeting with IM Special Guest (Ben Stafford, Foundation for Economic Education, USA)

3. Day – 12.09.2010
08.30–09.15 BREAKFAST
10.00–11.15 “Uncertainty in the Economics of Global Warming” (Jan Lewiński)
11.15–11.30 COFFEE BREAK
11.30–13.00 “Coase Theorem” (Jacek Kubisz, Szymon Chrupczalski)
13.05–13–20 Commemorative Photo
13.30–14.30 LUNCH
14.40–17.15 Hall A: Exams / Hall B: information on IM activities (Witold Falkowski), free time, book exchange
17.30–18.30 DINNER
18.30–19.00 Announcement of IM fellowships, distribution of diplomas

Workshops can take place thanks to the support of Mr. Grzegorz Raczkowski

Speakers:
Olgierd Sroczyński M.S., graduate of Jagiellonian University in Krakow, Faculty of Philosophy and Krakow University of Pedagogics, national coordinator of “Lessons of Economics”, head of the Club of Austrian School of Economics in Krakow, columnist (articles in: „Przegląd Oświatowy”, „Estetyka i Krytyka”); since 2008 co-organizer for Lessons of Economics in high schools in Krakow, Nowy Sącz and Katowice

Dr Mateusz Machaj, founder of Polish Mises Institute, PhD at Wroclaw University of Economics, assistant professor at Wroclaw University of Environmental and Life Sciences

Szymon Chrupczalski M.S., junior economist of IM, graduate of Jagiellonian University in Krakow and Krakow University of Economics, freelance columnist.

The participants in the workshop will receive a certificate of completion/participation.

Program of workshops:
9.30–10.00 Registration
10.00–10.45 “Economics at school - what for?”
10.45–11.40 Lesson I - Theory of Value
11.45 – 12.40 Lesson II - Market Competition and Monopoly
Coffee Break
12.55 – 13.50 Lesson III - History and the Theory of Money
13.55 – 14.50 Lesson IV - Financial Crises

This year’s seminar brought together over 60 participants and speakers. Deliberations opened the inaugural lecture of the Head of the Scientific Council of Instytut Misesa (IM), Prof. Witold Kwaśnicki of Wroclaw University - Macroeconomics and Austrian theory. The speaker pointed out the timeliness of the Austrian analysis in the context of the current crisis. The first day was also a fascinating debate between the prof. Kwaśnicki and prof. Tadeusz Kowalik, which was led by Dr. Mateusz Machaj.
Despite the clearly divergent views on the causes of the crisis and his prescriptions for overcoming, both speakers agreed that the market is necessary in the economy.In the course of other sessions of individual speakers issues of banking, finance, the methodology of economics, capital theory and the theory of the business cycle have been presented. In one of his lectures the team leader of the experts of IM, Juliusz Jabłecki studied regulation of the financial market and talked about the progress of the 2008 crisis which was the most present issue spoken about. Much emotion and debate provoked another instance of the speaker, in which he analyzed the effects of the introduction of the euro in Poland. In turn, Karol Lew Pogorzelski, IM specialist of the public sector, asking about the validity of the methodology of the Austrian School, proved that the discussion and methodological disputes within the school and among its supporters are the most viable. Very important elements of the seminar were the teachers training workshops. Arthur Foulkes, an American columnist and associate of the Mises Institute in Auburn, led the first part of them in which He demonstrated that the science of economics can be fascinating even for primary school pupils. The second part of the workshop, which was led by volunteers from Krakow’s Club of the Austrian School of Economics at the IM participating in the project “Lessons of economics” proved to be a great compliment of the first one. The volunteers have been successfully running this project for more then a year. They’ve been introducing economic theory elements during entrepreneurship classes in high schools in Krakow.   The speakers discussed not only examples of lesson themes (interested persons received outlines for students and teachers), but also addressed the methodological issues, such as teaching materials. The classes attracted wide interest and were followed by a lively discussion.Thanks to one of the sponsors (In Vino Shop that belongs to dobrewina.pl network) first day of the seminar had an organized wine tasting event. Seminar guests could enjoy delicious vines from the countries of the Old and the New World.This year’s seminar participants could join a specialist exam of the foundations of economic theory in terms of the Austrian school. Written test, a qualifying exam to the 2^nd oral part passed all of the 18 participants. The oral part - 14 of them. Four people have passed with honours.

The presentation of diplomas and certificates of participation took place on the last day on the pier of the pond in the historic park surrounding the Radziejowice Palace.

Authors: Witold Falkowski, Anna Gruhn

Translation: Karol Wieczorek